Yellow Book Compliant Appraisals
Formally known as “Uniform Appraisal Standards for Federal Land Acquisitions (UASFLA)” It was first published in 1971. The sixth edition, published in 2016, is the current issue. This is usually applicable when federal money is involved, often through a state agency or local land trust. Both the U.S. Fish and Wildlife Service and U.S. Forest Service require UASFLA compliant appraisals from which many conservation funds flow. Yellow Book is compatible with USPAP, aka Uniform Standards of Professional Appraisal Practice. Read USPAP here.
Yellow Book is not compatible with FIRREA for financial institutions.
One of the major distinguishing factors in adhering to Yellow Book guidelines is the Larger Parcel rule. The Larger Parcel rule has three main factors noted below:
- Unity of ownership, beneficial control of a single entity
- Unity or integrated HBU
Subdivision Valuation is discouraged.
Title to Property
- Must report last sale of subject, regardless of how long ago
- Must report all sales and offers during last ten years
Read or download a copy of the Yellow Book here.